Tata Consultancy Services (TCS) today in a statement said that all is well in its biggest vertical banking and finance vertical.

The company in a statement to the exchanges said the segment continues to grow and is ahead of its overall performance. The company said it wanted to allay market fears on demand in this vertical.

As the captains of the $108-billion IT services sector meet for the 24th edition of Nasscom Leadership Forum starting Wednesday, the question on everybody’s minds is — how to revive growth amid tough times?

The export-driven industry aims to generate $350 billion revenue by 2025. At a time when growth is waning, the targeted compounded annual growth rate of 11 per cent seems like a tough task.

MUMBAI: The benchmark BSE Sensex extended losses for a second straight day and cracked below 24,000-mark by tumbling almost 374 points in early deals on sustained capital outflows by foreign funds and selling by retail investors.

There were no surprises on the growth front as a government data on Monday showed that Indian economy grew 7.3 per cent in October-December quarter of 2015-16.

After investing $250 million in December 2015, eCommerce website Amazon has now invested about $300 million in Amazon Seller Services. The capital are being used to improve warehousing, logistics and marketing services.

With this, Amazon India has now received over $1 billion, since CEO Jeff Bezos announced to invest $2 billion to support Amazon’s India growth in July 2014. In July 2015, Amazon said that it may invest about $5 billion in India over the next few years.

Government has exempted state-owned ONGC and Oil India from payment of fuel subsidy in the third quarter ended December 31, as slump in oil prices dented their revenues.

As per a new fuel subsidy sharing formula approved last year, upstream firms Oil and Natural Gas Corp (ONGC) and OIL have to make good any revenue loss incurred by fuel retailers on selling kerosene through PDS and domestic LPG after taking into account the fixed subsidy provided by the government.

India's second largest state-run lender Punjab National Bank posted a sharp 93% decline in net profit in the third quarter of the fiscal on account of fresh slippages arising from the steel sector besides higher provisioning requirement as part of RBI norms. The net profit in the October to December quarter stood at Rs 51 crore versus Rs 775 crore in the corresponding period of the previous fiscal.

New Delhi: HCL Technologies Ltd, India’s fourth largest software services exporter, on Monday said it will launch an incubation centre for the Internet of Things in partnership with Microsoft Corp. in Redmond, Washington.

The aim is to build advanced solutions based on machine-to-machine (M-2-M) technology, in areas such as industrial manufacturing, life sciences and healthcare.

Mumbai: Capital markets regulator the Securities and Exchange Board of India (Sebi), which is now also the regulator of commodity exchanges, is planning to bring warehouse service providers under its regulatory ambit to keep an eye on all aspects of the commodity market, according to two people familiar with Sebi’s thinking.

Currently, commodity exchanges come under Sebi, but the activities related to storage of underlying commodities linked to futures are not under its purview. The existing norms only ensure that warehouses are registered with Warehouse Development and Regulatory Authority (WDRA).

The rupee broke below the 68-mark again by depreciating 26 paise to 68.20 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange due to increased demand for the American unit from importers and banks amid a lower opening in the domestic equity market.

Moreover, sustained capital outflows also weighed on the domestic unit but dollar's weakness against some currencies overseas limited the rupee's fall, forex dealers said.

India will grow at 7.4% in FY16 and at 7.7% in FY17, a Bank of America Merrill Lynch Global Research report says.

The report said that the growth will be according to the new GDP calculation and on the back of better rains in the period.

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